In a tenancy in common, which statement is true about ownership?

In a tenancy in common, which statement is true about ownership?

• A. There is a right of survivorship
• B. All tenants hold joint ownership
• C. Each tenant holds a divided interest
• D. Tenants in common must be corporations

Answer: (C)

In tenancy in common, ownership is held as separate, transferable interests while the right to possess the whole property is shared among all co-owners. Each co-owner has their own distinct share, which can be unequal, and this share can be bought, sold, or inherited independently. There is no right of survivorship—if someone dies, their interest goes to their heirs or according to their will, not to the other co-owners. Because of this setup, the statement that each tenant holds a divided, or separate, interest accurately describes tenancy in common. The other options don’t fit: tenancy in common does not include a right of survivorship (that belongs to joint tenancy), it’s not necessarily joint ownership, and tenants can be individuals or other entities—not only corporations.

In tenancy in common, ownership is held as separate, transferable interests while the right to possess the whole property is shared among all co-owners. Each co-owner has their own distinct share, which can be unequal, and this share can be bought, sold, or inherited independently. There is no right of survivorship—if someone dies, their interest goes to their heirs or according to their will, not to the other co-owners. Because of this setup, the statement that each tenant holds a divided, or separate, interest accurately describes tenancy in common. The other options don’t fit: tenancy in common does not include a right of survivorship (that belongs to joint tenancy), it’s not necessarily joint ownership, and tenants can be individuals or other entities—not only corporations.